Point Roberts, WA - October 27, 2011 (Investorideas.com renewable energy/green newswire) Investorideas.com, a leader in renewable energy stock research, releases an investor alert for solar stock First Solar, Inc. (NasdaqGS: FSLR) following its collapse this week.
Solar expert, J. Peter Lynch, who provides ongoing commentary on solar stocks at Investorideas.com, had this to say" First Solar (FSLR) was down almost 25% on Tuesday when the company announced that their Chairman was replacing the current CEO.
This event cannot be the whole story - but the company stock continues to drop from its high this year of $174.00. I am sure that the company is being affected by decreasing margins and the usual uncertainty about U.S. tax subsidies and treasury grants.
Regardless of what is causing the stock to go down, it really does not matter. I said in early September that the stock was NOT a buy at $98.00 and it is certainly not a buy at this juncture. The stock continues to produce lower tops and lower tops - very negative technically.
Will it turn around or not? We will see, but the stock will have to put in a much broader base and show some positive action before anyone who is serious would give this stock a serious look."
Peter also announced his bottom fishing buy list this week for solar stocks: WFR, JASO, JKS, YGE, SOL.
http://www.investorideas.com/PL/ news/2011/10251.asp
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